1. Field of the Invention
The present invention relates to programs, models and methods for predicting future occurrences of events. More particularly, the invention relates to a method for predicting a future occurrence of an event using a plurality of variables and an artificial neural network.
2. Description of the Related Art
Many organizations attempt to predict future events or trends to more efficiently and/or economically provide services. For example, medical facilities such as hospitals and clinics would like to determine patient-related information such as length of stay, treatment options, and pharmaceutical needs for a given ailment. Such information can help the medical facility plan for issues such as bed space, staffing concerns, and purchasing and storage of supplies. As a result, costs could be cut by not planning to provide more resources than would be necessary.
Trend forecasting and future event prediction in the past have involved accumulating data associated with the subject of the forecasting or prediction. Regression or extrapolation techniques are applied to the data to find the trend or predict future activity. However, these techniques don't take into account variable data connected with the event.